THE DISTRIBUTION OF GLOBAL WEALTH
As Published By Douglas E. Castle In The Internationalist Page Blog
As Published By Douglas E. Castle In The Global Futurist Blog
0.7% Of The World's Population Controls 41% Of Its Wealth.
Financial inequality is steadily rising alongside global wealth, which reached a grand total of $263 trillion in 2014. According to Crédit Suisse, people with a net worth of over $1 million represent just 0.7 percent of the planet's population, but they control 41 percent of its wealth. 69 percent of the world's population have a net worth of under $10,000 - they account for a mere 3 percent of global wealth.Meanwhile, 23 percent fall into the $10,000-$100,000 bracket and they control 14 percent of worldwide wealth. In order to be counted among the wealthiest half of the world's citizens, a person requires a net worth of $3,650. The above chart [courtesy of Statista] shows how the world's wealth is shared amongst its population, by income group.
More frighteningly, and not shown directly by the above graph, the larger picture is that approximately 1.4% Of The World's Population Controls 81% Of Its Wealth.
Most frighteningly is that economists estimate that approximately 2.3% Of The World's Population Controls In Excess Of 90% Of The World's Total Wealth.
As the trend toward financial inequality continues to grow at an accelerating rate (since with each major capital markets downturn, the poor lose more wealth and the rich actually gain wealth [through purchasing available “bargains”] which is generally realized as soon as the ensuing economic recovery invariably begins) an ever-nearer class war becomes more and more of a threat.
Some Implications And Takeaways:
1) The market for luxury items is constantly increasing and is becoming more economically resilient;
2) The poorer segment of the global population is sustaining itself on either credit or government aid – many simply live in constantly more widespread poverty;
3) If you're in the most fortunate 2.3% of the global population, fortify your possessions and dwellings, because a class war, where the peasants storm the castles, is heading your way in the event that this enormous inequality shifts to the point where the poor start to blame the rich for their plight more than they currently blame their respective governments and the politicians which comprise them.
If our course is not corrected, this could happen within the next five to ten years! Douglas E. Castle
Related articles
- Less Than 1% Of The World's Population Control 41% Of Its Wealth [Infographic] (forbes.com)
- World's rapidly expanding millionaire club (japantimes.co.jp)
- Hidden Millionaires: Lessons From Unconventional Money Management (quicken.intuit.com)
- Global Wealth Inequality (viableopposition.blogspot.com)
- "The Millionaire's Club Expands": The Wealthiest 10 Percent Of Americans Own 75 Percent Of The Personal Wealth (mykeystrokes.com)
- With 41% of global wealth in the hands of less than 1%, elites and citizens agree inequality is a top priority - pewresearch.org (pewresearch.org)
- Rich still getting richer, poor poorer (dearkitty1.wordpress.com)
- The Eternal Divide: A Broken Record (whatpowderfingersaid.blogspot.com)
THE GLOBAL FUTURIST – Douglas E Castle
http://theglobalfuturist.blogspot.com
Discovering and following significant trends across an extensive range of domestic and international consumer, business, demographic, cultural, economic, political, technological and other key areas of influence and impact on life and business; predicting future change, preparing for it and profiting from it.
Key Terms: business, forecasting, trends, future, prediction, disruption, displacement, innovation, complexity theory, economic waves and cycles, projections, planning
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